ScS has pulled out the race to buy fellow furniture specialist Sofa.com, seemingly paving the way for Sports Direct tycoon Mike Ashley to snap up the business.
The retailer said this morning that it was âno longer in discussionsâ over a potential acquisition of the etailerâs business or its assets.
ScS had emerged as one of two front-runners to buy Sofa.com, alongside Sports Direct.
Ashleyâs interest is reported to stem from the fact Sofa.com operates concessions in several House of Fraser stores â the department store chain Ashleyâs Sports Direct rescued from administration in a ÂŁ90m swoop last year.
KPMG, which is dealing with the sale of Sofa.com, is expected to finalise a deal within days.
LGT European Capital, which took control of the online retailer last year, is looking to offload the business in a quick-fire sale.
In its accounts for the year to February 28 2018, Sofa.com slumped to an operating loss of ÂŁ33.6m â more than double that of the prior year â on sales of ÂŁ28.8m.
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